2902 E 2nd St · Newberg, OR 97132

$98,500

2 bd · 1.0 ba · 840 sqft · Manufactured · 42 Days on market

Built 1972 $117/sqft · at area comps Est $95k · at est.

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +5.7/15.0
• Livability +3.8/5.0
• Schools +3.4/10.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located in 55 & Older Park, this newly remodeled Single wide home is located in Wine Country, close to Hospital, Golf Course, Local Grocery Shopping. This community hosts many Club house activities, Inground Swimming Pool, Dog Park & RV Storage. This Home comes with a 1-yr Home Warranty with full price or Cash offers.

Key facts

• Garage
• Community pool
• Built 1972

Property features AI

Finance

• Other: Parcel number 251998
• Financial info: Monthly lot rent $720; No land lease; Tax year 2025
• HOA & community: Community pool; Senior community

Exterior

• Parking: Carport; Driveway; Attached carport available
• Security: Security features not specified
• Utilities: Public water; Public sewer; Electric-powered hot water and fuel; Cable internet available
• Home design: Manufactured home in a park; Residential property; Single-story; Owner-occupied space; Built in 1972
• Construction: Built in 1972; Block foundation with skirting; Membrane roof
• Exterior features: Covered patio; Fenced yard; Dog run; Metal siding; Level lot; Paved road access; Valley view

Interior

• Kitchen: Free-standing range; Free-standing refrigerator; Pantry
• Bedrooms: Primary bedroom on main level (12 x 16); Second bedroom on main level (10 x 10)
• Flooring: Laminate flooring
• Bathrooms: One full bathroom on main level
• Heating & cooling: Forced air heating; Heat pump; Central air conditioning
• Interior features: Updated/remodeled condition; One-level living; Accessibility features including built-in lighting and accessible bathroom cabinets; Vinyl window frames; Crawl space foundation/skirting; Laundry area with washer/dryer
• Laundry & utility: Utility room on main level (4 x 6); Washer and dryer included

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $98k.

Deal economics

• At list price, monthly cash flow is $679 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $98k).
• Recommended offer: $96k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.6% vs local median 2.4% in Newberg — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 76/100 on livability (#77 in OR, #3,395 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, employment A+, housing A+; Watch: cost of living D, commute F.
• Newberg SD 29J (town): math 30% / reading 45% proficiency, ranked #17 of 58 in OR (top 29%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Mabel Rush Elementary School (math 44% / reading 44%, grade F, #143 of 412 statewide, top 38%, 389 students, 38% FRL); Mountain View Middle School (math 29% / reading 44%, grade F, #54 of 128 statewide, top 42%, 498 students, 99% FRL); Newberg Senior High School (math 24% / reading 74%, grade D, #50 of 143 statewide, top 37%, 1,389 students, 31% FRL) — zoned schools average 56% FRL vs 36% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 230 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 282 units permitted in Yamhill County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $681 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Yamhill County population projected at +8% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 0.6% rent growth), your $28k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($96k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 7y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $95,545 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.75% ✓
• Cap rate: 14.56%
• Cash-on-cash: 29.52%
• DSCR: 2.31
• GRM: 4.8

CMA / ARV

• ARV (median comp): $94,800
• List price: $98,500
• Delta: 3.90%
• Verdict: FAIR
• Comps: 10 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2902 E 2nd St #106	0.07mi	2/1.0	840 (0%)	3mo	$94,000	$112	94
2901 E 2nd #121	0.06mi	2/1.0	784 (-7%)	5mo	$82,500	$105	82
2902 E 2nd St #12	0.11mi	2/1.0	924 (+10%)	1mo	$98,000	$106	77
2902 E 2nd St #54	0.03mi	2/2.0	924 (+10%)	3mo	$95,600	$103	76
2902 E 2nd St #108	0.07mi	3/2.0 (+1)	924 (+10%)	6mo	$115,500	$125	66

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.55% rent growth · sell at horizon

5-year hold

• IRR: 21.2%
• Equity multiple: 1.84×
• Total profit: $23,143
• Equity at exit: $14,687

10-year hold

• IRR: 27.7%
• Equity multiple: 3.17×
• Total profit: $59,734
• Equity at exit: $8,516

Cash invested: $27,580 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 28 Tenant-Leaning
• State Oregon: 28 Tenant-Leaning · D+6
• County: — inherits STATE
• City: — inherits STATE

SB608 (2019): statewide rent cap (7% + CPI) and just-cause for tenancies > 1 yr. Portland has relocation assistance ordinance.

Methodology + full state rankings →

ZIP-level market 97132

• Rents YoY: 0.6%
• Active inventory: 230
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,721 high
• Mortgage (P&I): −$517
• Tax est. 1.5%: −$123 /mo · $1,478/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$361
• Net cashflow: $679

Break-even live

Break-even rent $862

Max offer price $98,500

Occupancy floor 56%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $24,625
• Closing costs: $2,955
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2501 E 2nd St #12 Newberg, OR	2.0	2.0	910	$1,500	$1.65	24d	1	0.35mi
704 N Elliott Rd Newberg, OR	2.0	1.5	850	$1,700	$2.00	16d	1	0.56mi
401 S Everest St Newberg, OR	2.0	1.0	950	$1,625	$1.71	2d	1	0.64mi
901 N Pecan Ct Newberg, OR	2.0	1.0	827	$1,550	$1.87	2d	2	0.68mi
1536 E 3rd St Unit 20 Newberg, OR	3.0	1.0	1000	$1,725	$1.73	44d	1	0.69mi
1005 Wynooski St Unit 7 Newberg, OR	2.0	1.0	825	$1,675	$2.03	44d	1	0.72mi
611 Sitka Ave Unit 03 Newberg, OR	2.0	1.5	900	$1,550	$1.72	44d	1	0.74mi
601 Wynooski St Unit 201 Newberg, OR	2.0	2.0	1122	$1,850	$1.65	44d	1	0.76mi
601 Wynooski St Unit 100 Newberg, OR	2.0	2.0	1064	$1,745	$1.64	15d	1	0.76mi
1418 E 2nd St Unit 10 Newberg, OR	2.0	1.0	850	$1,550	$1.82	44d	1	0.78mi
2400 E Haworth Ave Newberg, OR	1.0–3.0	1.0–1.5	1025	$1,638	$1.60	2d	2	0.80mi
1200 E 4th St Apt 1 Newberg, OR	1.0	1.0	600	$1,425	$2.38	18d	1	0.89mi
500 S River St #20 Newberg, OR	2.0	1.0	800	$1,425	$1.78	3d	1	0.94mi
2507 Hawthorne Dr Newberg, OR	2.0	1.0	950	$1,700	$1.79	2d	1	0.94mi
1401 N Springbrook Rd Newberg, OR	2.0	1.0	960	$1,550	$1.61	16d	4	0.95mi
1401 N Springbrook Rd Apt 128 Newberg, OR	2.0	1.0	960	$1,500	$1.56	2d	1	0.95mi
1401 N Springbrook Rd Unit 220 Newberg, OR	2.0	1.0	960	$1,600	$1.67	24d	1	0.97mi
1109 S River St Newberg, OR	2.0	2.0	969	$1,812	$1.87	2d	3	1.12mi
4001 E Jory St Newberg, OR	1.0–3.0	1.0–2.0	941	$1,950	$2.07	2d	1	1.15mi
507 N Meridian St Apt 1 Newberg, OR	2.0	1.0	700	$1,375	$1.96	3d	1	1.17mi
1404 E Park Ln Newberg, OR	1.0–2.0	1.0	783	$1,670	$2.13	2d	4	1.20mi
1210 S College St Unit 335-218 Newberg, OR	1.0	1.0	640	$1,400	$2.19	11d	1	1.23mi
606 E Ninth St Apt 34 Newberg, OR	2.0	1.0	920	$1,550	$1.68	4d	1	1.24mi
606 E 9th St Newberg, OR	2.0	1.0–1.5	920	$1,550	$1.68	20d	2	1.24mi
4460 E Jory St Unit 114 Newberg, OR	2.0	2.0	909	$1,899	$2.09	11d	1	1.29mi
1200 N Meridian St Newberg, OR	2.0	1.5	950	$1,595	$1.68	44d	1	1.33mi
611 S Blaine St Newberg, OR	1.0–2.0	1.0–2.0	860	$1,645	$1.91	44d	2	1.40mi
912 Charles St Apt B Newberg, OR	2.0	1.0	1087	$1,750	$1.61	44d	1	1.42mi
911 W Charles St Newberg, OR	2.0	1.0	888	$1,795	$2.02	8d	1	1.44mi

Listing history 31 events

1. 2026-06-18
   days on market $98,500 Active 42 DOM
2. 2026-06-17
   days on market $98,500 Active 41 DOM
3. 2026-06-16
   days on market $98,500 Active 40 DOM

   Show marketing remark (331 chars)

   Located in 55 & Older Park, this newly remodeled Single wide home is located in Wine Country, close to Hospital, Golf Course, Local Grocery Shopping. This community hosts many Club house activities, Inground Swimming Pool, Dog Park & RV Storage. This Home comes with a 1-yr Home Warranty with full price or Cash offers.

4. 2026-06-15
   days on market $98,500 Active 39 DOM
5. 2026-06-13
   days on market $98,500 Active 37 DOM
6. 2026-06-09
   days on market $98,500 Active 33 DOM
7. 2026-06-08
   days on market $98,500 Active 32 DOM
8. 2026-06-07
   days on market $98,500 Active 31 DOM
9. 2026-06-05
   days on market $98,500 Active 28 DOM
10. 2026-06-03
    days on market $98,500 Active 27 DOM
11. 2026-06-02
    days on market $98,500 Active 26 DOM
12. 2026-06-01
    days on market $98,500 Active 25 DOM
13. 2026-05-31
    days on market $98,500 Active 24 DOM
14. 2026-05-12
    listed $98,500 Active 331-char remark

    Show marketing remark (331 chars)

    Located in 55 & Older Park, this newly remodeled Single wide home is located in Wine Country, close to Hospital, Golf Course, Local Grocery Shopping. This community hosts many Club house activities, Inground Swimming Pool, Dog Park & RV Storage. This Home comes with a 1-yr Home Warranty with full price or Cash offers.

15. 2026-05-07
    listed $98,500 Active 945-char remark
16. 2025-10-06
    soldstatus $113,000 Closed

    Show marketing remark (881 chars)

    Renovated manufactured home on a corner lot in a quiet, 55+ community. This home features a spacious floor plan with three bedrooms and two full bathrooms. Recent upgrades include a completely redesigned kitchen with solid surface countertops, new cabinets, and a brand new stainless steel appliance package. New luxury vinyl flooring stretches throughout the majority of the home, with new trim, lighting fixtures, ceiling fans and all-new electrical outlets/covers. The primary bathroom has been updated with a new vanity, countertops and fixtures. New toilets in both of bathrooms, and a new water heater as well. The property has a large carport that can fit two vehicles, two large storage sheds, a dedicated covered patio, and with a ramp leading to the front door. Nut Tree Estates provides a welcoming environment with group events, a gathering hall, billiards, and a pool.

17. 2025-08-21
    status Pending

    Show marketing remark (881 chars)

    Renovated manufactured home on a corner lot in a quiet, 55+ community. This home features a spacious floor plan with three bedrooms and two full bathrooms. Recent upgrades include a completely redesigned kitchen with solid surface countertops, new cabinets, and a brand new stainless steel appliance package. New luxury vinyl flooring stretches throughout the majority of the home, with new trim, lighting fixtures, ceiling fans and all-new electrical outlets/covers. The primary bathroom has been updated with a new vanity, countertops and fixtures. New toilets in both of bathrooms, and a new water heater as well. The property has a large carport that can fit two vehicles, two large storage sheds, a dedicated covered patio, and with a ramp leading to the front door. Nut Tree Estates provides a welcoming environment with group events, a gathering hall, billiards, and a pool.

18. 2025-07-21
    price $124,900

    Show marketing remark (881 chars)

    Renovated manufactured home on a corner lot in a quiet, 55+ community. This home features a spacious floor plan with three bedrooms and two full bathrooms. Recent upgrades include a completely redesigned kitchen with solid surface countertops, new cabinets, and a brand new stainless steel appliance package. New luxury vinyl flooring stretches throughout the majority of the home, with new trim, lighting fixtures, ceiling fans and all-new electrical outlets/covers. The primary bathroom has been updated with a new vanity, countertops and fixtures. New toilets in both of bathrooms, and a new water heater as well. The property has a large carport that can fit two vehicles, two large storage sheds, a dedicated covered patio, and with a ramp leading to the front door. Nut Tree Estates provides a welcoming environment with group events, a gathering hall, billiards, and a pool.

19. 2025-07-15
    price $127,000

    Show marketing remark (881 chars)

    Renovated manufactured home on a corner lot in a quiet, 55+ community. This home features a spacious floor plan with three bedrooms and two full bathrooms. Recent upgrades include a completely redesigned kitchen with solid surface countertops, new cabinets, and a brand new stainless steel appliance package. New luxury vinyl flooring stretches throughout the majority of the home, with new trim, lighting fixtures, ceiling fans and all-new electrical outlets/covers. The primary bathroom has been updated with a new vanity, countertops and fixtures. New toilets in both of bathrooms, and a new water heater as well. The property has a large carport that can fit two vehicles, two large storage sheds, a dedicated covered patio, and with a ramp leading to the front door. Nut Tree Estates provides a welcoming environment with group events, a gathering hall, billiards, and a pool.

20. 2025-07-08
    price $129,000

    Show marketing remark (881 chars)

    Renovated manufactured home on a corner lot in a quiet, 55+ community. This home features a spacious floor plan with three bedrooms and two full bathrooms. Recent upgrades include a completely redesigned kitchen with solid surface countertops, new cabinets, and a brand new stainless steel appliance package. New luxury vinyl flooring stretches throughout the majority of the home, with new trim, lighting fixtures, ceiling fans and all-new electrical outlets/covers. The primary bathroom has been updated with a new vanity, countertops and fixtures. New toilets in both of bathrooms, and a new water heater as well. The property has a large carport that can fit two vehicles, two large storage sheds, a dedicated covered patio, and with a ramp leading to the front door. Nut Tree Estates provides a welcoming environment with group events, a gathering hall, billiards, and a pool.

21. 2025-06-12
    listed $137,000 Active

    Show marketing remark (881 chars)

    Renovated manufactured home on a corner lot in a quiet, 55+ community. This home features a spacious floor plan with three bedrooms and two full bathrooms. Recent upgrades include a completely redesigned kitchen with solid surface countertops, new cabinets, and a brand new stainless steel appliance package. New luxury vinyl flooring stretches throughout the majority of the home, with new trim, lighting fixtures, ceiling fans and all-new electrical outlets/covers. The primary bathroom has been updated with a new vanity, countertops and fixtures. New toilets in both of bathrooms, and a new water heater as well. The property has a large carport that can fit two vehicles, two large storage sheds, a dedicated covered patio, and with a ramp leading to the front door. Nut Tree Estates provides a welcoming environment with group events, a gathering hall, billiards, and a pool.

22. 2023-09-13
    soldstatus $58,000 Closed
23. 2023-08-28
    status Pending
24. 2023-08-24
    listed $58,000 Active
25. 2020-03-27
    soldstatus $31,999 Sold
26. 2020-02-29
    status Pending
27. 2020-02-26
    historical Active with Bumpable Contingency
28. 2020-02-04
    price $31,999
29. 2020-01-16
    price $36,999
30. 2019-11-18
    price $39,999
31. 2019-10-03
    listed $50,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥92°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 11 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,647
• − Mortgage interest: −$5,518
• − Property taxes: −$1,478
• − Insurance: −$492
• − Repairs & maintenance: −$1,652
• − Management: −$1,652
• − Depreciation: −$2,865
• Taxable income: $6,991
• Est. tax owed @ 24.0%: −$1,678
• After-tax cash flow: $6,465/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Newberg SD 29J
• NCES district ID: 4108720
• Math proficiency: 30% ▼ -13.00%
• Reading proficiency: 45% ▼ -12.00%
• Median HH income: $62,898
• Composite: 33.6/100
• National rank: #5414
• State rank: #17 of 58 in OR

Livability — Newberg

• Score: 76/100
• State rank: #77
• US rank: #3395

Category grades

Amenities A+ Commute F Cost of living D Crime C+ Employment A+ Housing A+ Health & safety A+ User ratings C-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Newberg, OR
• County: Yamhill County · 71,150 people
• City population: 32,486
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• Population (ZIP): 32,486
• Household income: $96,493
• Rent vs Own: 35.8% rent · 64.2% own
• Severe rent burden: 1311.0

Population outlook (Yamhill County) Hauer SSP2

• Today (2025): 109,295 people
• By 2030: 112,060 · +2.5%
• By 2040: 115,975 · +6.1%
• By 2050: 118,155 · +8.1%
• By 2075: 120,968 · +10.7%
• By 2100: 116,163 · +6.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Hispanic / Latino 14% Two or more races 12% Asian 3%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Italian 5% Portuguese 3% Slovak 3%
• Foreign-born: 7% · Canada, China
• Languages at home: 89% English-only · Spanish 8% Other Indo-European 1% Other Asian/Pacific 1%

Political lean MEDSL · Yamhill

• 2024 margin: Lean R (+6.1) · D 45.3% · R 51.4% · Other 3.3%
• 2008→2024 swing: -4.8pp toward R · 2008: -1.4pp · 2024: -6.1pp
• All cycles: 2024: R+6.1 2020: R+4.0 2016: R+8.8 2012: R+6.7 2008: R+1.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -265.11%
• Current HPI: 320.8972
• Rent YoY: ▲ 0.55%
• Metro: Portland-Vancouver-Hillsboro, OR-WA
• State GDP YoY: ▲ 2.05%
• F500 in state: 2

Industry mix (Fortune 500 HQ in OR)

Industry	F500 HQs	Revenue
▸Consumer Goods	1	$51B

Price history

+79.9% since first listed

19 events — show timeline

• 2026-06-16 Price Changed $89,950 FSBO.com
• 2026-05-12 Listed $98,500 FSBO.com
• 2026-05-07 Listed $98,500 RMLS
• 2025-10-06 Sold (MLS) $113,000 RMLS
• 2025-08-21 Pending — RMLS
• 2025-07-21 Price Changed $124,900 RMLS
• 2025-07-15 Price Changed $127,000 RMLS
• 2025-07-08 Price Changed $129,000 RMLS
• 2025-06-12 Listed $137,000 RMLS
• 2023-09-13 Sold (MLS) $58,000 RMLS
• 2023-08-28 Pending — RMLS
• 2023-08-24 Listed $58,000 RMLS
• 2020-03-27 Sold (MLS) $31,999 RMLS
• 2020-02-29 Pending — RMLS
• 2020-02-26 Contingent — RMLS
• 2020-02-04 Price Changed $31,999 RMLS
• 2020-01-16 Price Changed $36,999 RMLS
• 2019-11-18 Price Changed $39,999 RMLS
• 2019-10-03 Listed $50,000 RMLS